Flash: GBP/USD has chance to test new highs above 1.5700 – Investec

FXstreet.com (New York) - The exodus from equity and rate markets has yielded very little as the GBP/USD is managing to trade on its own merits on the back of such an encouraging flow of data over the summer and positive market reaction to the new Bank of England chief, Mark Carney, notes Jonathan Pryor, Corporate Treasurer at Investec.

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Indeed, “the GBP/USD tested new highs briefly at 1.5670 before quickly turning around to finish the day slightly lower just above 1.5600.”

“The USD weakness so far this week is undoubtedly helping the pound’s cause and with Public Finance figures and CBI industrial trends surveys released tomorrow in the UK it gives Sterling the next opportunity to push higher.”